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In this video tutorial from Elan, Ritesh discusses three key concepts from the Indian Contract Act: the nature of a surety's liability, continuing guarantees, and joint debtors. Section 128 outlines that a surety's liability is coextensive with that of the principal debtor, meaning the surety is responsible for the same amount as the principal. For instance, if the principal debtor is liable for $100, the surety is also liable for $100. Section 129 addresses continuing guarantees, while Section 132 focuses on the liabilities of joint debtors and sureties. The tutorial uses examples to clarify the implications of these sections in practical terms.
